Well, I'm just speculating here, I know absolutely nothing but I do follow fairly closely, not nearly as closely as JAQ though.
Obviously there are one or more huge sellers and considering Bailey didn't dilute a single share in JAQ in a year we can probably assume it's not his mgmt team, who was put in place 8 or 9 months ago, doing it. To me the dilution almost looks similar to the toxic financing deals you often see.
So this statement in the filings raises eyebrows. Perhaps this is the seller..??
11/30/2011 98,440,000 shares issued at par ($ 0.001) in settlement of $98,440,000 debt. The unpaid obligation was documented in SEC filings. The shares were issued without restriction. No cash yield to the Company.
Another possibility is maybe Ashlin is getting out. The selling coupled with the fact that lorel, who has always had good communications with Eric Rosen, is no longer getting call backs from him seems odd to me.
Ashlin was a part of the old MatchinAds days and the majority of the beneficial owners are some how associated with MatchinAds or Ashlin.
However, the mgmt team is Baileys and Bailey is doing all the work trying to get acquisitions to increase value there so why would he be doing all this so Ashlin benefits..?? He has no shares according to the filings, whats he get out of it?
Perhaps when he took over DND he wanted to r/s but couldn't because he didn't have the voting rights to do so. Maybe now he lets them sell out, then does a reverse and gets in control of the company. Then he can bring some real value there through acquisitions..??
I'd feel a whole hell of a lot better with Bailey and Peters being in control of DND vs Noumou Diallo and Ashlin.